. >> store manager jennifer thomas sells trendy designer fashions at her boutique in the u.s. capitol, washington, d.c. it is a tough business. competition is fierce, and it could get worse if the u.s. were to slip over the fiscal cliff. automatic tax hikes across the board would mean less disposable income for american consumers. >> i think our biggest concerns here are we will not be seeing people purchase as many items as they have in the past. we will see people buy jeans and a top, but they will not buy an additional pair of jeans or a dress on top of that. >> many customers are already pinching pennies. >> it has put a lower ceiling than normal on what we can spend for the holidays, our expenditures for our home, our plans for next year, with trips we may or may not go on. >> but the budget control act leading to the fiscal cliff is about more than just tax hikes. automatic public spending cuts would also take effect, primarily in the defense budget, which could have huge repercussions for the massive u.s. defense industry. and there's more -- investment in the country's